#Coffee #shops are prompting some people to think about the #pros and #cons of #redenominating the #Korean #currency.
Coffee shops are prompting some people to think about the pros and cons of redenominating the Korean currency. Many cafes are chopping zeroes off their prices. For a drink that costs 3,500 won, the menu shows a price of 3.5.
There are fewer digits there, which some say helps make the menu easier to read and makes bookkeeping simpler. On the other hand, some point out that fewer zeros could trick our brains into thinking things are cheaper than they are, and cause prices to rise. A house that costs 680,000 won might be considered a bargain, which would encourage the seller to raise it to 700,000.
There are fewer digits there, which some say helps make the menu easier to read and makes bookkeeping simpler. On the other hand, some point out that fewer zeros could trick our brains into thinking things are cheaper than they are, and cause prices to rise. A house that costs 680,000 won might be considered a bargain, which would encourage the seller to raise it to 700,000.
